Sanford “Sandy” Weill, the former head of Citigroup Inc., was named chairman of the board at Hamilton Insurance Group Ltd., which runs the reinsurer that hedge fund manager Steven A. Cohen exited.
Chubb Corp., the insurer of commercial property and high-end homes, said third-quarter profit rose 79 percent on lower catastrophe costs.
Former American International Group Inc. chief Maurice “Hank” Greenberg has a new business partner: the U.S. taxpayer.
Travelers Cos. , the insurer added to the Dow Jones Industrial Average last year, may incur $183 million in costs from Hurricane Earl, Macquarie Group Ltd. said today.
Progressive Corp. , the fourth- largest U.S. auto insurer, gained the most in three months as the company beat analysts’ estimates and added customers.
Yahoo! Inc.’s Marissa Mayer is boosting the company’s research unit, which was downsized under her predecessor, as the chief executive officer bets on emerging technologies from big data to artificial intelligence.
Progressive Corp. , the fourth- largest U.S. auto insurer, said profit increased 23 percent on investment gains and rising policy sales to individuals through the Internet.
Shareholders of reinsurers still counting losses from the biggest Japanese earthquake on record are betting on a share rebound comparable to the one that followed Hurricane Katrina in 2005.
Travelers Cos. climbed the most in the Dow Jones Industrial Average after Chief Financial Officer Jay Benet said the company will buy back more shares than previously planned.
Reinsurance rates in Chile have surged since the world’s fifth-strongest earthquake in a century struck the country, attracting more carriers to the market.
"We have had Hurricane Isaac, but we have not had any other large losses beyond that."
- Amit Kumar on Oct 25, 2012